S4M-05007: Appointment of Dr Mark Carney as Governor of the Bank of England

27/11/2012

That the Parliament congratulates Dr Mark Carney, currently Governor of the Bank of Canada, on his appointment as Governor of the Bank of England; considers that Dr Carney is an international finance expert of wide experience and high reputation; is of the view that, under his guidance, the Canadian banking sector and economy in general did not participate in the excesses of the unwise credit boom, which included unsustainable investment in the sub-prime mortgage market and led the USA, UK and some other jurisdictions into the present, prolonged recession; considers that the economies of Canada and some other countries are now in a substantially better condition than the aforementioned jurisdictions, and wishes Dr Carney well in his new duties, including restoring the regulation of the banking sector, whose decisions in recent years, it considers, have greatly damaged the economy and lives of ordinary people in Scotland.